On the basis of status of development, how are resources classified?
Show answer & explanation
Correct answer: D
Explanation
The Correct answer is option 4 i.e. Potential, developed stock and reserve
The classification of resources based on the status of development includes:
- Potential, Developed, Stock, and Reserve:
- Potential Resources: Those resources that exist in a region but have not been utilized or developed due to various reasons.
- Developed Resources: Resources that are currently being exploited and utilized effectively.
- Stock Resources: Resources that are present in the environment but are not currently in use or are not exploitable with the existing technology.
- Reserve Resources: Resources that have been surveyed and are known to exist, and their exploitation is considered economically viable with current technology.